Forza Wealth Management LLC Sells 100 Shares of Nucor Co. (NYSE:NUE)

Forza Wealth Management LLC reduced its holdings in shares of Nucor Co. (NYSE:NUE) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,481 shares of the basic materials company’s stock after selling 100 shares during the quarter. Forza Wealth Management LLC’s holdings in Nucor were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NUE. Avior Wealth Management LLC lifted its holdings in shares of Nucor by 310.9% during the third quarter. Avior Wealth Management LLC now owns 1,360 shares of the basic materials company’s stock valued at $213,000 after purchasing an additional 1,029 shares in the last quarter. CX Institutional lifted its holdings in shares of Nucor by 0.7% during the third quarter. CX Institutional now owns 14,120 shares of the basic materials company’s stock valued at $2,208,000 after purchasing an additional 100 shares in the last quarter. Czech National Bank lifted its holdings in shares of Nucor by 46.2% during the third quarter. Czech National Bank now owns 43,475 shares of the basic materials company’s stock valued at $6,797,000 after purchasing an additional 13,735 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Nucor by 8.8% during the third quarter. Asset Management One Co. Ltd. now owns 112,887 shares of the basic materials company’s stock valued at $17,650,000 after purchasing an additional 9,098 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in Nucor by 17.4% during the third quarter. Handelsbanken Fonder AB now owns 45,589 shares of the basic materials company’s stock valued at $7,128,000 after acquiring an additional 6,743 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Transactions at Nucor

In other news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders sold a total of 38,151 shares of company stock valued at $7,308,683 over the last 90 days. Company insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. BMO Capital Markets reduced their price objective on Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their price objective on Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, UBS Group assumed coverage on Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $193.14.

Nucor Stock Performance

NUE traded down $0.18 during midday trading on Monday, reaching $175.24. The company had a trading volume of 1,198,739 shares, compared to its average volume of 1,438,269. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $190.42 and a two-hundred day moving average of $174.78. The company has a market cap of $42.05 billion, a P/E ratio of 10.31 and a beta of 1.61. Nucor Co. has a 1 year low of $129.79 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.45 EPS. As a group, equities research analysts predict that Nucor Co. will post 12.5 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s payout ratio is 12.71%.

Nucor Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.